Stocks to watch: NDTV, Bharti Airtel, ONGC, Jaiprakash Associates
RBI plans to allow banks to trade in loan portfolios bought from other banks and specialized financial institutions to meet priority lending obligations.
By ET Bureau |
MUMBAI: The Reserve Bank of India plans to allow banks to trade in loan portfolios bought from other banks and specialized financial institutions to meet priority lending obligations, as it looks to ensure the smooth flow of credit to sectors such as agriculture, housing and exports.
Global media and entertainment conglomerate NBC Universal Inc is in talks with New Delhi Television Ltd, to increase its stake in NDTV Networks Plc, the holding company for the group's entertainment and lifestyle businesses. It currently holds 26 per cent.
The $23-billion equity swap deal proposed by Bharti Airtel and South Africa's MTN may hit turbulent weather with India's capital markets watchdog amending the merger and takeover norms involving international transactions, experts said Tuesday.
In a move that surprised the corporate sector, the Securities and Exchange Board of India Tuesday said the mandatory open offer norm will be triggered even if the overseas equity holdings, in the form of global depository receipts or American depository shares, exceed 15 percent of the total paid-up capital of the target company. This may impact shares of the telecom major.
ONGC wants to hire an ultra deep-sea drill rig, the daily cost of which is about Rs 5 crore. This is to improve exploration in the western offshore blocks. Earlier this quarter, ONGC had hired the rig Dhirubhai Deepwater KG-1 from Reliance Industries Ltd on an assignment basis for $495,000 to $510,000 a day for four years. This could spur shares of the company.
Jaiprakash Associates will be watched amid media reports that the construction and engineering firm plans to raise up to $200 million through share sales. The shares are expected to be sold in block deals on Wednesday in a price range of Rs 238 to 243 each
Cipla may see some action after media reports that the drug maker planned to sell shares to institutional investors at Rs 263.75 each, near Tuesday's closing price, to raise up to $175 million.
Global media and entertainment conglomerate NBC Universal Inc is in talks with New Delhi Television Ltd, to increase its stake in NDTV Networks Plc, the holding company for the group's entertainment and lifestyle businesses. It currently holds 26 per cent.
The $23-billion equity swap deal proposed by Bharti Airtel and South Africa's MTN may hit turbulent weather with India's capital markets watchdog amending the merger and takeover norms involving international transactions, experts said Tuesday.
In a move that surprised the corporate sector, the Securities and Exchange Board of India Tuesday said the mandatory open offer norm will be triggered even if the overseas equity holdings, in the form of global depository receipts or American depository shares, exceed 15 percent of the total paid-up capital of the target company. This may impact shares of the telecom major.
ONGC wants to hire an ultra deep-sea drill rig, the daily cost of which is about Rs 5 crore. This is to improve exploration in the western offshore blocks. Earlier this quarter, ONGC had hired the rig Dhirubhai Deepwater KG-1 from Reliance Industries Ltd on an assignment basis for $495,000 to $510,000 a day for four years. This could spur shares of the company.
Jaiprakash Associates will be watched amid media reports that the construction and engineering firm plans to raise up to $200 million through share sales. The shares are expected to be sold in block deals on Wednesday in a price range of Rs 238 to 243 each
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Cipla may see some action after media reports that the drug maker planned to sell shares to institutional investors at Rs 263.75 each, near Tuesday's closing price, to raise up to $175 million.
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